When you read the comments on their announcement, you can see that this has already sparked interest in the developers of the Daala video codec. Both groups have already exchanged some source code with each other, and they seem to assume that they will one day come up with a joint (rather than competing) proposals for the NetVC standard. (Historically, a similar joint effort of the Vorbis and Silk developers was successful in turning Opus into the InterNet audio codec of IETF choice.)

And while traditional broadcasters and hardware vendors are still deeply invested in H.264 and H.265, the ever increasing popularity of streamed video content on the InterNet might one day push the scales of relevance in favor of IETF codec standards.